The TPPA, a so-called ‘free trade agreement’, is being negotiated secretly by 11 countries round the Pacific rim and is likely to lead to:
- Loss of sovereignty and ability for the NZ Government to legislate for the well-being of its people. Corporations will be able to overturn our decisions.
- Decreased ability for New Zealand to protect itself from a collapsing global economy. With capital controls it would be impossible to impose a financial transaction tax, demand a minimum stay of capital etc. New Zealand is very vulnerable because the NZD is the 10th most traded currency and our current account deficit is large.
- Loss of New Zealand SME’s ability to genuinely compete for central and local Government tenders. Greater competition for local businesses.
- Increased sale of land and assets to overseas owners
- Further deregulation of the already weakly regulated and increasingly powerful financial industry. Lessened ability to regulate against toxic financial products.
- Possibility for Government being sued if legislation reduces corporate profits e.g. climate change, environmental protection, public health (tobacco, alcohol, food, gambling), financial re-regulation.
- Restricting or requiring payment for access to internet information, thus reducing the ability of SMEs to compete.
- More overseas ownership of banks, telecommunications, insurance companies, media, supermarkets, elderly care facilities and transport firms.
- More unemployment and a lower tax take
- Fewer opportunities for democratic participation by citizens
The 15th (and final?) round of negotiations takes place in Auckland from 3-12 December. Time is really short.
- Go to www.itsourfuture.org.nz or www.fairdeal.net.nz to learn more.
- Write to the Minister of Trade, the Prime Minister and ask the negotiators to insert an opt-out clause for future governments.
- Organise your sector to oppose the secrecy and the trend to give increasing rights to Trans National Corporations.